LITE - Apple FQ1 results will focus on iPhone 12 and Wearables holiday boost - preview

Apple (AAPL) will report fiscal Q1 results after the bell today. Shares are relatively flat while supply chain stocks are seeing red as the market digests earnings from Texas Instruments and AMD, which raised concerns about demand and margin softness, respectively. The focus will be on the iPhone 12 family, which had a pandemic-related production delay that pushed the launch into FQ1. Analysts are expecting $59.86B (+7% Y/Y) in iPhone revenue compared to the $26.4B last quarter, which fell short of the $27.7B estimate.Last quarter, Greater China revenue dropped 29% Y/Y, and Apple said the situation would improve with the iPhone 12 launch.Pandemic-related work and learn from home tailwinds should continue to drive strength for Macs with $8.7B in revenue (down from the all-time record $9B last quarter) and iPads with $7.6B versus the $6.8B last quarter.Services hit a record $14.5B in sales in FQ4 and analysts expect $15B this quarter. Wearables, Home

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Apple FQ1 results will focus on iPhone 12 and Wearables holiday boost - preview